Operation Black Shield!

Hey guys!

What a week it has been huh?! We got a chance to meet a lot of you in person, during the NYC Cryptocurrency Convention and the Toronto Bitcoin Expo. The out-pouring of support and interest in BlackCoin and BlackCoinPool.com, it was both humbling and amazing. Thank you to anyone who talked to us at either events, and especially thanks to people from our community that showed up to say hello.

So first things first, we have added an analyst/trader to the dev team, his job is to scour for opportunities that would secure a wider profit margin for the miners. We have also added 2 additional developers on a full time capacity, these devs have experience working with startups and building out infrastructure, and have launched many successful products themselves. They have already helped us implement a much more comprehensive and dynamic scaling solution.

Speaking of which, this weekend our server took a beating and we loved every minute of it! We peaked at around 11.7 GH/s!! To put that into perspective, we were about 1/6th the Dogecoin network. Our server was screaming, and we had to implement some really quick fixes such as upping the min-diff to 512 just to reduce server load. We have learned a big lesson from this, and diverted all of our manpower in to implementing a proper solution for scaling. Our new solution will scale comfortably to 30GH/s and more. The solution is now running live on the site, and everything so far seems to be going smoothly- there are some minor cosmetic issues that need resolving. But other than that, the core of it is running better than we expected, and it should keep us much more flexible in the future- it’s also the beginning piece of our merged/split mining solution so that’s exciting.

We have spoken with many crypto industry people, and everyone is very excited about the pool and the BlackCoin experiment. We are talking with industry leaders and are considering partnerships that would benefit our community and give us an additional competitive edge against other multipools.

We have also learned our lessons from the mayhem of this weekend, and have realized that we need a solution to mitigate or at least make it less lucrative for whales to dump.

Over the next few iterations we will be introducing the Alpha stages of our BlackCoin whale dumping mitigation strategy.

Soon it will be possible to donate a portion of your shares towards the Black Shield Defense fund. This is an address that we will publicly available and can be monitored through the blockchain. It’s purpose is to erect buy walls on a predetermined exchange, the buy walls will be publicly listed, and can be seen by everyone.

But building just one wall is not enough, because if by the time the dumps have gotten to our wall, it could already be too late. So our strategy is to erect a series of buy walls, we like to think of them as warning clusters. If one of the warning clusters gets triggered, a message is sent out to the community in the form of a tweet/irc message/and e-mail (sign up for the alert is 100% optional and completely opt-in.) Hopefully this will cause the community to spring in to action, and help defend their investments by reinforcing the buy wall. We are still working out the technical and logistical info and will have more info for the community as it becomes available.

I would also like to thank everyone in our community, for making this project possible. It is only when we come together does our true strength show. It is the community that makes this pool and coin, and not the other way around. Thank you, and we look forward to building something that both us and the community can be proud of.

-LDG

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